Automotive Connectors Market Overview
The automotive connector market is expected to register a CAGR of over 6%, during the forecast period, 2020 – 2025. The increase in safety concerns among consumers, coupled with safety-related initiatives from government agencies, has elevated the requirement for a reliable connector in various vehicle systems. For instance, safety systems, like seatbelts, airbags, and brakes used in vehicles require a connection system comprising a retainer and safety restraint system connector. Thus, the increasing demand for automotive safety systems has a direct influence on the demand for automotive connectors, in turn, driving the growth of the market.
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Automotive Connectors Market – Geographical Overview
Europe region is expected to capture the largest automotive connectors market share
Euro NCAP released a few protocols on safety features, like autonomous emergency braking, driver monitoring, and child occupant protection, in 2018, and is anticipating to mandate these features in EU vehicles by 2020-2022. With growing regulations toward vehicle safety standards across every region, the adoption of safety and security systems in automobiles is expected to increase, which, in turn, will result in the demand for and usage of connectors during the forecast period. The increasing demand for electric and semi-autonomous vehicles in Europe is simultaneously impacting the usage of automotive connectors.
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Key Highlights of the Automotive Connectors Market
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Mordor Intelligence has segmented the global automotive connectors market on the basis of application type, vehicle type, and geography:
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